FCG Investment Co Sells 9,106 Shares of AT&T Inc. $T

Key Points

• FCG Investment Co has reduced its stake in AT&T Inc. by 43.5% during the second quarter, following the sale of 9,106 shares, leaving it with 11,812 shares valued at approximately $342,000.
• AT&T reported a quarterly earnings per share (EPS) of $0.54, exceeding analysts' expectations of $0.53, along with a revenue of $30.85 billion, higher than the anticipated $30.44 billion.
• The company announced a quarterly dividend of $0.2775 per share, with a yield of 3.9%, set to be paid on November 3rd to shareholders on record as of October 10th.

FCG Investment Co lessened its position in AT&T Inc. (NYSE:T - Free Report) by 43.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,812 shares of the technology company's stock after selling 9,106 shares during the period. FCG Investment Co's holdings in AT&T were worth $342,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock valued at $18,411,543,000 after purchasing an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AT&T during the second quarter worth $5,266,758,000. GQG Partners LLC raised its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock worth $1,561,514,000 after acquiring an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AT&T by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after acquiring an additional 1,307,009 shares during the period. Institutional investors own 57.10% of the company's stock.

AT&T Stock Performance

NYSE T opened at $28.31 on Friday. The firm has a 50-day moving average of $28.58 and a 200-day moving average of $27.86. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market cap of $202.42 billion, a PE ratio of 16.08, a P/E/G ratio of 3.63 and a beta of 0.44. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. AT&T's payout ratio is currently 63.07%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on T shares. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Sanford C. Bernstein raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Wells Fargo & Company raised their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $30.74.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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